Jim Cramer weighs in on how the algorithm's are impacting the market.
I'm Katherine Ross and I'm here live from the floor of the NYSE with Jim Cramer. Jim, what's on the top of your mind for you this morning?
Yeah. Algos are set to be up today. I mean, we have the bonds. Uh, interest rates are going higher and oil's higher. That means algos stay up and probably could be up a thousand, uh, barring some revelation from the government. That's the way it works.
Uh, you... There's an on switch and an off switch. Uh, yo- you have a little bit of window opportunity, sometimes at 11. But this is the pattern ever since the algos took over. Ah, it makes it so, that as Karen Kramer would say, "You had to buy them yesterday."
You come in now and you buy Walmart at 120. It's not- not only is it not down, it's now above, uh, and I think you run the risk it's just, well, that's today. I mean I don't like to do 'That's today.'
Uh, there are good opportunities to sell today, particularly the oils. But, uh, this on again/off again switch is quite unnerving and it's just another sign that the markets are very broken right now.
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